Cigna Corporation (CI) Lifted to Strong-Buy at BidaskClub
Cigna Corporation (NYSE:CI) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.
A number of other equities research analysts have also weighed in on CI. Jefferies Group LLC restated a “buy” rating and issued a $178.00 price objective (up from $172.00) on shares of Cigna Corporation in a report on Sunday, April 23rd. Zacks Investment Research upgraded shares of Cigna Corporation from a “hold” rating to a “buy” rating and set a $175.00 price objective for the company in a report on Tuesday, April 25th. Stifel Nicolaus boosted their price objective on shares of Cigna Corporation from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Royal Bank Of Canada boosted their price objective on shares of Cigna Corporation from $172.00 to $177.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Finally, Deutsche Bank AG boosted their price objective on shares of Cigna Corporation from $172.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $180.44.
Cigna Corporation (NYSE:CI) traded down 0.56% during trading on Friday, hitting $177.03. 1,034,361 shares of the stock traded hands. Cigna Corporation has a 12 month low of $115.03 and a 12 month high of $181.00. The company has a 50-day moving average price of $173.66 and a 200-day moving average price of $160.28. The stock has a market cap of $44.57 billion, a PE ratio of 20.43 and a beta of 0.46.
Cigna Corporation (NYSE:CI) last announced its quarterly earnings data on Friday, August 4th. The health services provider reported $2.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.48 by $0.43. The firm had revenue of $10.32 billion during the quarter, compared to analyst estimates of $10.26 billion. Cigna Corporation had a net margin of 5.55% and a return on equity of 17.40%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 EPS. Equities research analysts expect that Cigna Corporation will post $10.03 EPS for the current year.
In other news, CEO David Cordani sold 153,168 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $170.20, for a total value of $26,069,193.60. Following the sale, the chief executive officer now directly owns 421,162 shares of the company’s stock, valued at approximately $71,681,772.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lisa R. Bacus sold 2,236 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $179.95, for a total transaction of $402,368.20. Following the completion of the sale, the executive vice president now directly owns 18,501 shares in the company, valued at $3,329,254.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,463 shares of company stock worth $41,678,984. Insiders own 1.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC acquired a new stake in Cigna Corporation during the first quarter worth $556,000. Boys Arnold & Co. Inc. increased its stake in Cigna Corporation by 1.8% in the first quarter. Boys Arnold & Co. Inc. now owns 1,833 shares of the health services provider’s stock worth $269,000 after buying an additional 33 shares in the last quarter. Columbus Circle Investors increased its stake in Cigna Corporation by 7.0% in the first quarter. Columbus Circle Investors now owns 44,421 shares of the health services provider’s stock worth $6,507,000 after buying an additional 2,906 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Cigna Corporation during the first quarter worth $689,000. Finally, Candriam Luxembourg S.C.A. increased its stake in Cigna Corporation by 20.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 15,839 shares of the health services provider’s stock worth $2,320,000 after buying an additional 2,672 shares in the last quarter. 87.61% of the stock is currently owned by hedge funds and other institutional investors.
About Cigna Corporation
Cigna Corporation (Cigna), together with its subsidiaries, is a health services company. The Company offers medical, dental, disability, life and accident insurance and related products and services. The Company’s segments include Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations and Corporate.
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